48in48 Inc

Analysis

48in48 Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in March 2019, 7 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, 48in48 Inc reported income of $322k and spending of $326k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $569k to $322k (-43%), an average of -13% a year. The sharpest change came in the year to December 2020, when income dropped by 43%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, 48in48 Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 67th percentile within GA. Charities of a similar size with the same main cause include Orchestra and Community Choral Artists of the Tahoe Area Inc ($322k), Mannakin Theater and Dance ($322k) and Maridon Museum ($322k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $102k (31% of expenses). Other salaries and wages came to $100k. At year end it held assets of $144k against liabilities of $12k, net assets of $131k. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.